Borneo Oil shares rise, Lau ups stake to 23%

PETALING JAYA: Prices in the shares and warrants of Borneo Oil Bhd rose amid a subdued market as its new substantial shareholder, who is related to conglomerate Hap Seng Consolidated Bhd, increases his stake to 23% from 19.12%.

Borneo Oil’s share added 2.5 sen or 3.76% to 69 sen, with 20.6 million shares changing hands. Its warrants climbed two sen or 3.92% to 53 sen.